Part Exchange Schemes
At Shropshire Homes, we offer two part-exchange schemes. The schemes are only available on selected plots and any interested party must be qualified with panel prior to any discussion concerning both options.
Option One: Property PX Group
We have partnered with Property PX Group to bring you a brand-new Part-Exchange scheme, to help you have a quick, simple and stress-free move.
How does the Property PX Group Part-Exchange scheme work?
- Your Shropshire Homes Sales Executive will ask you for some basic information about your existing property, such as size, location and condition.
- They will submit your information to Property PX Group, whose in-house experts will work with independent local estate agents to value the property, and provide you with an offer. Your Sales Executive will handle all communications, so there’s nothing for you to worry about!
- If you accept the offer made by Property PX Group, they will agree a completion date and manage the sale, meaning you can secure your dream Shropshire Home without the stress of chains
What properties are suitable?
Property PX Group will consider a range of properties across England and Wales, provided they are in good condition and have a positive outlook for market conditions.
Your dream home also needs to have a completion date within 16 weeks, and must be used as your permanent residence.
It is important to note that PPXG will make an offer of around 85% of your property’s value – while you will receive less money than you might through a traditional sale process, you benefit much more from a guaranteed price, and being able to secure your ideal plot without the worry of losing your buyer. You also won’t have to pay any estate agent’s fees, so you can put that money towards your new home.
Based on the information you provide, your Sales Executive will be able to advise whether this Part-Exchange scheme is suitable for you before beginning the application process.
What makes this Part-Exchange scheme different?
While Shropshire Homes’ existing Part-Exchange scheme is still available depending on individual circumstances, our new scheme in collaboration with Property PX Group allows us to extend our Part-Exchange scheme further.
Properties across England and Wales can be considered, as well as those with a value up to £750,000, meaning that a much wider range of homes are eligible.
The scheme can also be used by upsizers, downsizers and side movers alike – there’s no differential involved, so the price difference between your existing property and your dream home has no impact on your eligibility for the scheme.
Part exchange your existing home for your dream home from Shropshire Homes. Available on selected plots and developments with no hassle, just a smooth move to your new home. Please speak to our Sales Executive on your chosen development for further information on availability.
Option Two: Shropshire Homes Part-exchange
This Scheme is only available on selected plots and any interested party must be qualified with panel prior to any discussion concerning this scheme.
Once a party has been financially qualified and meets the following criteria this form can then be submitted.
- 30% Differential between our home and the interested party (their property must be a minimum of 30% less than ours and generally no more than £200,000 to allow for a quick sale).
- Location of the interested buyer’s property must be within our operating area.
Terms & Conditions are noted below
- Valuation for part exchange will be based upon the price which two independent valuers believe your home would be likely to achieve in the current market.
- We will appoint two independent valuers to value your home on the basis of achieving a sale within 4 – 6 weeks.
- We are under no obligation to make an offer but if we do, it will be valid for 5 working days. If the offer is not accepted within this timeframe, the offer may be withdrawn.
- An offer made by us under the part exchange scheme is subject to any necessary further enquiries or reports.
- If you have already incurred costs [e.g., estate agent or legal fees] at the time of negotiating a Part Exchange Shropshire Homes will not reimburse these costs.
- On completion of a home purchase by us under the part exchange scheme we will retain a £500 retention bond. This will be refunded to you provided your old property is left in an acceptable condition where any fixtures or fittings that have been removed are made good, all rubbish is removed and the property has been cleaned. We will also require accurate meter readings to be provided to your utility companies.
- You agree that no party is currently negotiating to purchase the property you are selling and that no introduction has already been made by any other party.
- Shropshire Homes will purchase your existing home and take legal title to it prior to selling it on to a third party, to allow you to purchase a new Shropshire Homes home. If you withdraw from the transaction and Shropshire Homes has found a prospective buyer for your home, Shropshire Homes will not make an introduction between you and the prospective buyer. If an introduction has already been made by Shropshire Homes or their agent you will be liable to pay a fee of £1,000 plus VAT to Shropshire Homes to reimburse costs incurred and Shropshire Homes will have no further involvement in facilitating the sale.
- Solicitors will ask that you complete the Property Information Questionnaire and Form (PIQ/PIF). As Shropshire Homes has no first-hand knowledge of your existing home the company will have to use these same PIF/PIQ forms for presentation to a subsequent purchaser for your existing home. You confirm that you will complete these forms accurately and acknowledge that a future purchaser will rely upon on your answers and that legal action may be taken against you if you are found to have given false information.
Note – The prospective buyer will be liable for the costs of the Homebuyers report.